The pricing of your property can have a big effect on how quickly it sells. There is no exact science to figure out value, but you want to estimate as closely as possible to what a qaulified buyer would be willing to pay for your property. Don't be tempted to list at a higher price just to see what you can get, because overpricing usually slows selling time and you end up having to drop the price several times. The longer a property is on the market, the deeper the discount is likely to be from the original sales price.
Many property owners want to set their list price based on what they paid for it, the balance on mortgage, or the profit they want to make. In reality, your property is only worth what other comparable properties in the area are selling for. This may be more, or even less than what you paid for the property yourself.
A comparative market analysis should include recently sold properties, as well as properties that are currently on the market as your competition. Your YHP Realty agent will also have access to how long each property took to sell, also known as "days on market", which informs you what price per sqaure foot is selling faster than others.
Using a knowledgeable agent is the key to pricing your property correctly, as they will have access to all the necessary tools to compare properties. Choose the right professional to help you with the sale of your property, and the whole transaction is more likely to go through quickly and smoothly from the beginning.
All information is deemed reliable but is not gauranteed and should be independently verified. Properties subject to prior sale or rental.
Copyright 2014. YHP Realty, LLC doing business as: Your Home Pros Realty. All rights reserved.
Broker: Kody Horn
12553 S. Harrell's Ferry Rd., Baton Rouge, La 70816
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